UNITED STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM 8-K
CURRENT
REPORT
Pursuant to Section
13 or 15(d) of the Securities Exchange Act of 1934
Date of
Report (Date of earliest event reported): March 19, 2013
THE BON-TON STORES, INC. |
(Exact name of registrant as specified in its charter) |
Pennsylvania |
0-19517 |
23-2835229 |
(State or Other Jurisdiction |
(Commission File |
(IRS Employer Identification No.) |
2801 E. Market Street, York, Pennsylvania 17402 |
(Address of Principal Executive Offices) |
717-757-7660
(Registrant’s Telephone Number, including Area Code)
Not
Applicable
(Former Name or Former Address, If Changed Since Last
Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
⃞ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
⃞ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
⃞ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
⃞ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers |
On March 19, 2013, the Board of Directors of The Bon-Ton Stores, Inc. (the “Company”) unanimously elected Jeffrey B. Sherman to serve as a member of the Board, effective immediately. Mr. Sherman will serve on the Human Resources and Compensation Committee.
Mr. Sherman will receive, on a prorated basis, the Company's standard director compensation arrangements applicable to directors who are not employees of the Company in accordance with the terms of director compensation disclosed in the Company’s Proxy Statement filed with the Securities and Exchange Commission on May 1, 2012.
There was no arrangement or understanding between Mr. Sherman and any other persons pursuant to which Mr. Sherman was selected as a director.
In addition, on March 19, 2013, Byron L. Bergren informed the Board of Directors that he will not be standing for reelection to the Board. Mr. Bergren’s term as director will expire effective as of the 2013 annual meeting of shareholders.
The election of Mr. Sherman and the departure of Mr. Bergren were announced in the press release attached hereto as Exhibit 99.1 and incorporated by reference herein.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
99.1 Press Release dated March 21, 2013, regarding the election of a new director and the departure of a director.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
The Bon-Ton Stores, Inc. |
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By: |
/s/ Keith E. Plowman |
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Keith E. Plowman |
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Executive Vice President, Chief Financial |
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Officer and Principal Accounting Officer |
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Dated: |
March 21, 2013 |
Exhibit 99.1
The Bon-Ton Stores, Inc. Appoints a New Member to Its Board of Directors
YORK, Pa.--(BUSINESS WIRE)--March 21, 2013--The Bon-Ton Stores, Inc. (NASDAQ: BONT) today announced its Board of Directors has unanimously elected Jeffrey B. Sherman to its Board, effective immediately. Mr. Sherman will serve on the Human Resources and Compensation Committee.
Mr. Sherman, 64, has been President of The Echo Design Group, a company that designs, manufactures and distributes accessories and home products, since 2010. From 2008 to 2010, he served as President and Chief Executive Officer of Hudson’s Bay Trading Company, a retailer with over 600 retail locations in Canada and the United States. Prior to that, Mr. Sherman served as President and Chief Operating Officer of the Polo Retail Group of Ralph Lauren Corporation, as Chief Executive Officer of Limited Stores and in positions of increasing responsibility for over thirty years with Federated Department Stores, including President and Chief Operating Officer of Bloomingdale’s. Mr. Sherman received his M.B.A. from New York University and a B.S. degree from New York City College. Mr. Sherman serves on the Board of Directors of United Way, New York City.
Tim Grumbacher, Chairman Emeritus of the Board, stated, “We are very pleased to welcome Jeff as a member of our Board of Directors. Jeff possesses extraordinary experience in the retail and apparel industries. I believe his expertise and vast knowledge will be invaluable to Bon-Ton. We welcome Jeff’s insight and counsel as we continue to execute our business strategies for profitable growth and increased shareholder value.”
The Company also announced that Bud Bergren has informed the Board of Directors he will not be standing for reelection to the Board. Mr. Bergren’s term as director will expire effective as of the 2013 annual meeting of shareholders.
Mr. Grumbacher said, “The Board of Directors and I would personally like to thank Bud for his contributions and dedicated service. We were very fortunate to have had his counsel and support and wish him the best.”
The Bon-Ton Stores, Inc., with corporate headquarters in York, Pennsylvania and Milwaukee, Wisconsin, operates 271 department stores, which includes 11 furniture galleries, in 24 states in the Northeast, Midwest and upper Great Plains under the Bon-Ton, Bergner’s, Boston Store, Carson’s, Elder-Beerman, Herberger’s and Younkers nameplates. The stores offer a broad assortment of national and private brand fashion apparel and accessories for women, men and children, as well as cosmetics and home furnishings. For further information, please visit the investor relations section of the Company’s website at http://investors.bonton.com.
CONTACT:
The Bon-Ton Stores, Inc.
Mary Kerr, 717-751-3071
Vice
President
Investor & Public Relations
mkerr@bonton.com